Company announcement no 2023-06 17 April 2023
Demant raises financial guidance for 2023
Today, Demant announces preliminary revenue and growth rates for Q1 2023 and adjusts the outlook for 2023 to reflect very strong performance in Q1. The outlook for organic growth is increased to 6-10% (prev. 3-7%) and for EBIT to DKK 3,800-4,200 million (prev. DKK 3,600-4,000 million).
|
Revenue (DKK million) |
|
Growth |
|||||
Business area |
Q1 2023 |
Q1 2022 |
|
Organic |
Acquisitive |
LCY |
FX |
Reported |
|
|
|
|
|
|
|
|
|
Hearing Aids, total sales |
3,048 |
2,351 |
|
26% |
0% |
26% |
4% |
30% |
Hearing Aids, internal sales |
-570 |
-441 |
|
23% |
5% |
29% |
1% |
29% |
Hearing Aids, external sales |
2,478 |
1,910 |
|
26% |
-1% |
25% |
4% |
30% |
Hearing Care |
2,218 |
1,898 |
|
9% |
8% |
17% |
0% |
17% |
Diagnostics |
566 |
503 |
|
4% |
7% |
11% |
2% |
13% |
Hearing Healthcare |
5,262 |
4,311 |
|
16% |
4% |
20% |
2% |
22% |
|
|
|
|
|
|
|
|
|
Communications |
246 |
292 |
|
-15% |
0% |
-15% |
-1% |
-16% |
|
|
|
|
|
|
|
|
|
Group |
5,508 |
4,603 |
|
14% |
4% |
18% |
2% |
20% |
In Q1 2023, Demant realised organic growth of 14%. This was significantly above our initial expectations driven by very strong performance in Hearing Healthcare, while Communications, as expected, saw negative organic growth.
Driven by the development in Q1 2023, we increase our outlook for organic growth to 6-10% (prev. 3-7%). Also, we increase our outlook for EBIT to DKK 3,800-4,200 million (prev. DKK 3,600-4,000 million), which reflects increased profitability in Q1. As a consequence, the Group’s gearing multiple at the end of 2023 is now expected to be within our medium- to long-term target of 2.0-2.5.
We will not host a conference call in connection with today’s announcement, but more details will be published in our Interim Management Statement on 3 May 2023.
Further information: Søren Nielsen, President & CEO Phone +45 3917 7300 |
Other contacts: René Schneider, CFO Mathias Holten Møller, Head of Investor Relations Peter Pudselykke, Investor Relations Officer Trine Kromann-Mikkelsen, VP Corporate Communication and Sustainability |
Demant is a world-leading hearing healthcare group that offers solutions and services to help people with hearing loss connect with the world around them. In every aspect, from hearing devices, hearing implants, diagnostics to audio and video solutions and hearing care all over the world, Demant is active and engaged. Our innovative technologies and know-how help improve people’s health and hear-ing. We create life-changing differences through hearing health.